[1] Cf Adam Smith, Wealth of Nations.
[2] "How the Steam Engine Changed the World" http://www.livescience.com/2612-steam-engine-changed-world.html
[3] “Why the Industrial Revolution happened in Britain” http://www.bbc.co.uk/history/0/20979973
[4] Hidden Gears of the Industrial Revolution – How India made Britain ‘Modern’ !!! http://greatgameindia.wordpress.com/2013/04/15/hidden-gears-of-the-industrial-revolution-how-india-made-britain-modern/
[5] “Carbolic smoke ball: fake or cure?” http://news.bbc.co.uk/1/hi/business/8340276.stm
[6] “10 dangerous things in Victorian/Edwardian homes” http://www.bbc.co.uk/news/uk-25259505
[7] Such as “The Sale Of Goods Act, 1930” http://indiankanoon.org/doc/651105/
[8] “United Nations Guidelines for Consumer Protection” http://www.consumersinternational.org/who-we-are/un-guidelines-on-consumer-protection/
[9] “Profile: World Trade Organization” http://news.bbc.co.uk/1/hi/world/europe/country_profiles/2429503.stm#leaders
[10] Unfair Consumer Contract Terms Directive 93/13/EEC
[11] Consumer Protection (Distance Selling) European Directive 97/7/EC
[12] “New UK ECC booklet shows how consumer protection in the EU has changed” http://www.tradingstandards.gov.uk/policy/policy-pressitem.cfm/newsid/1172
[13] “EU position in world trade” http://ec.europa.eu/trade/policy/eu-position-in-world-trade/
[14] “MFN status for India on the cards” http://www.dawn.com/news/1082756/mfn-status-for-india-on-the-cards
[15] http://aseanconsumer.org/news/
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There is already a move towards encouraging more trade within the region, with two of the largest countries, Pakistan and India working towards most-favoured nation (MFN) status[14]. With this, there will come a need to protect consumers within the region. A pan-South Asian consumer law will most likely be the answer. This will not only cement a trading-bloc, but also raise standards to a uniform level. It is a paradox that European goods are now readily accepted, even in countries where they have no warranties. This is because there is consumer confidence in these goods, and people buy them knowing that they are high- quality. Similarly, higher standards are likely to create a market for South Asian products and services in rest of the world, as is the case with European products.
In pursuit of this goal, South Asia will have to work quickly and coopertively. As a means towards creating an ASEAN-trade bloc by 2015, ASEAN committee on consumer protection has begun to work on a similar framework[15]. This further shows how the world is moving towards supranational trade and consumer protection in the aftermath of WTO and EU. There will be financial rewards for those regions that are the forefront of these trends.
onsumer Protection is an important right for the people of South Asia. We have seen how this right has progressed as the world has changed and become more industrialised and specialised. It is suggested that the current trend is that world is moving towards cross-border free trade, which highlights the need for supranational consumer protection. These laws are important not only to protect the consumers, but also to encourage producers to create higher-quality products that can compete in the global market.
here is a criticism against consumer protection, because it is sometimes argued from the neo-liberal point of view that these laws disrupt the market. They argue that the invisible hand of the market should be respected to care for consumers, who will stop buying products of inferior quality. Arguments from the Left tend to be that fact that consumer laws fail to provide a comprehensive protection to consumer, meaning that they are inadequate and just window-dressing.
The arguments presented against consumer laws tend to overlook the historic dimension of these laws. We have seen how total control of all commercial activities is now almost impossible, as the world has now become so much more intertwined and products available to us are liklier produced in distant countries that our parents or grandparents. We have equally seen that free-market in Victorian Britain did not correct for abuse of consumers by merchants or manufacturers. Many of the problems that emerged with products used at the time, like asbestos, were detected after many years. Consumer laws only put a small onus on goods producer that they ensure reasonable care is taken for their products. As and when the risks appear to them, they were required take steps to remedy them. This is only fair, as they posses more information than the buyers and therefore have some duty towards them.
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